How To Measure Social Media - Pearsoncmg
How to Measure Social Media A Step-by-Step Guide to Developing and Assessing Social Media ROI NICHOLE KELLY
How to Measure Social Media: A Step-by-Step Guide to Developing and Assessing Social Media ROI Copyright 2013 by Pearson Education All rights reserved. No part of this book shall be reproduced, stored in a retrieval system, or transmitted by any means, electronic, mechanical, photocopying, recording, or otherwise, without written permission from the publisher. No patent liability is assumed with respect to the use of the information contained herein. Although every precaution has been taken in the preparation of this book, the publisher and author assume no responsibility for errors or omissions. Nor is any liability assumed for damages resulting from the use of the information contained herein. ISBN-13: 978-0-7897-4985-7 ISBN-10: 0-7897-4985-8 The Library of Congress cataloging-in-publication data is on file. Printed in the United States of America First Printing: October 2012 Trademarks All terms mentioned in this book that are known to be trademarks or service marks have been appropriately capitalized. Que Publishing cannot attest to the accuracy of this information. Use of a term in this book should not be regarded as affecting the validity of any trademark or service mark. Warning and Disclaimer Every effort has been made to make this book as complete and as accurate as possible, but no warranty or fitness is implied. The information provided is on an “as is” basis. The author and the publisher shall have neither liability nor responsibility to any person or entity with respect to any loss or damages arising from the information contained in this book. Bulk Sales Que Publishing offers excellent discounts on this book when ordered in quantity for bulk purchases or special sales. For more information, please contact U.S. Corporate and Government Sales 1-800-382-3419 corpsales@pearsontechgroup.com For sales outside of the U.S., please contact International Sales international@pearson.com Editor-in-Chief Greg Wiegand Senior Acquisitions Editor Katherine Bull Development Editor Jennifer Stevens Managing Editor Kristy Hart Project Editor Jovana Shirley Copy Editor Gill Editorial Services Indexer Erika Millen Proofreader Seth Kerney Technical Editor Matt Grant Publishing Coordinator Romny French Cover Designer Alan Clements Compositor Nonie Ratcliff Que Biz-Tech Editorial Board Michael Brito Jason Falls Rebecca Lieb Simon Salt Peter Shankman
TABLE OF CONTENTS Introduction . 1 I Aligning Social Media with Core Business Objectives 1 Aligning Social Media Strategies to Business Goals . 11 Setting Social Media Goals . 12 Goal 1: Increase Brand Awareness . 14 Goal 2: Generate More Leads . 16 Retaining Your Existing Customers. 20 How Do I Know Which Goal Is Right for My Company? . 21 Goal 3: Increasing Customer Retention . 21 Selecting the Right Social Media Goal . 23 Hands-On Exercise: Selecting a Social Media Goal . 29 2 Activity 1: Plot Existing Marketing Tactics . 29 Activity 2: SWOT Analysis . 30 Aligning Social Media to the Sales Funnel . 33 Where Brand Awareness Fits. 35 Exposure . 35 Influence . 36 Engagement . 37 Action/Conversion. 40 Customer Retention . 41 Hands-On Exercise: Aligning the Funnel with Communications . 47 3 Activity 1: Chart Existing Communications . 48 Activity 2: Identify Communications Pieces That Don’t Work With Contacts Who Touched the Social Media Channel. 48 Activity 3: Determine Metrics to Evaluate Where People Fall Out of the Funnel. 48 Social Media for Brand Awareness. 51 Reality Check No. 1: No One Cares About Your Brand . 52 Reality Check No. 2: You Have Lost Control of Your Brand . 52 Where Brand Awareness Fits into the Funnel . 53 Types of Brand Awareness . 54 Where Social Media Fits into Brand Awareness Campaigns . 54
Ho w t o M easur e S o ci al M e d i a iv Where Social Media Fits into Reputation Management . 57 Developing a Measureable Strategy for a Brand Awareness Campaign . 59 Create a Listening Station. 59 Interpret the Conversation . 60 Why Listening Matters . 61 Refine Your Brand Awareness Goal. 61 Define Niches Within Your Target Market . 61 Define Social Media Channels . 63 Define Success Metrics . 63 Define Your Strategy . 65 Define How You Will Do It . 65 Flesh It Out . 66 Developing a Measureable Strategy for Reputation Management . 66 Develop a Listening Station. 66 Outline the Types of Reputation Management You Will Focus On . 67 Create Social Media Accounts Before You Need Them. 68 Define Success Metrics . 68 Define Your Strategy . 69 Define How You Will Do It . 69 Flesh It Out . 70 Organize Your Plans . 70 Hands-On Exercise: Prioritizing Brand Awareness Strategies . 71 4 Strategy Evaluation Matrix . 72 Measuring Social Media for Brand Awareness . 75 Community Manager . 76 Executive Management Team Metrics. 76 Translating Social Media for Executives . 76 Social Media Is Just Another Channel . 77 Don’t Measure Social Media in a Silo. 77 The Goal of Brand Awareness Campaigns. 77 Complementary Marketing Channels . 78 The Goal of Reputation Management . 79 Calculating Cost per Impression . 81 Calculating Cost per Engagement. 82 Calculating Cost per Conversion. 82
T a b l e o f Co n te n ts Handling Salaries in Cost Metrics . 82 Hands-On Exercise: Aligning Social Media Metrics to Metrics That Matter. 83 5 Social Media for Lead Generation . 87 Where Lead Generation Fits into the Funnel . 88 Understanding Social Media Lead Generation. 88 Handling Social Media Leads . 90 Soft Leads . 90 Hard Leads . 91 Content That Indicates Purchase Intent for HubSpot . 91 How to Kill the Sale . 93 Developing a Measurable Strategy for Lead Generation . 93 Promotional Content. 93 Informative Content . 94 Decision-Making Content . 95 Where Does Lead Scoring Fit? . 96 Slow Leads . 96 Medium Leads . 96 Fast Leads. 97 Types of Lead Scoring Models . 97 Optimizing the Path to Conversion. 97 Defining Success Metrics . 99 Define Your Strategy . 100 Define How You Will Do It . 102 Flesh It Out . 102 Organize Your Plans . 102 Hands-On Exercise: Prioritizing Lead Generation Strategies. 103 6 Strategy Evaluation Matrix . 104 Measuring Social Media for Lead Generation . 107 Identifying Lead Potential. 108 Slowest Leads . 109 Slow Leads . 109 Medium Leads . 110 Fast Leads. 110 Closed Leads . 110 Lead Scoring . 110 Types of Lead Scoring Models . 111 Points-Based Lead Scoring. 111 v
Ho w t o M easur e S o ci al M e d i a vi Activity-Based Lead Scoring . 112 Manual Lead Scoring . 112 Hybrid Lead Scoring . 112 It’s Okay to Keep It Simple . 113 Hands-On Exercise: Aligning Social Media Leads to the Sales Funnel . 116 Hands-On Exercise: Aligning Marketing Lists to Lead Categories . 116 7 List Management. 117 Customer Service, Referrals, and Strategies for Increasing Revenue from Existing Customers . 121 Where Customer Retention Fits into the Funnel. 122 Understanding Customer Retention . 123 Developing a Measureable Strategy for Customer Retention . 124 Provide Customer Service . 124 Turn Customers into Revenue . 129 Use Referral Strategies . 130 Spend More Money at Each Purchase . 133 Make More Frequent Purchases . 133 Define Your Goal for Customer Retention . 135 Listen. 135 Define Success Metrics . 135 Define Your Strategy . 137 Define How You Will Do It . 138 Flesh It Out . 138 Organize Your Plans . 139 Create Planning Documents . 139 Hands-On Exercise: Prioritizing Customer Retention Strategies . 140 8 Measuring Strategies for Increasing Revenue from Existing Customers . 143 Where Customer Revenue Generation Strategies Fit into the Organization. 144 Finding Your Key Metrics . 144 Manager Metrics. 145 Executive Metrics . 147 Why This Is Going to Be Difficult but Not Impossible. 148 What If You Can’t Separate Customers Who Touch Your Social Media Channels? . 149
T a b l e o f Co n te n ts Hands-On Exercise: Finding Customer Retention Metrics . 149 Getting the Reports You Need . 150 II Tools for Collecting Metrics 9 Breaking Down the Barriers to Social Media Measurement . 155 You Are the Problem . 156 Standards Are the Problem . 157 Confusion Between Measurement and Monitoring Tools Is the Problem . 157 Lack of Maturity in Measurement Tools Is the Problem . 158 Social Media Silos Are the Problem. 159 The Path to Conversion Is the Problem. 160 Your Systems Are the Problem. 161 Don’t Stop Now . 162 Hands-On Exercise: Finding and Overcoming Your Barriers . 163 10 Understanding the Dots That Need to Connect to Facilitate End-to-End Measurement . 167 Why Full Campaign History Is Important . 168 What Dots Need to Connect . 169 Is Getting Full Campaign History into Your CRM System Really Possible? . 171 Finding Opportunities for Integration. 172 Conducting a System Audit . 174 Prioritizing Data Initiatives. 175 Hands-On Exercise: Systems Audit . 177 System Audit Worksheet. 177 Finding Integration Opportunities . 177 11 Measurement Tool Review . 181 Argyle Social Review . 182 Overview. 182 Overall Measurement Features (3.7 Stars) . 184 Reporting Features (2 Stars). 185 Conversion Reporting (2 Stars) . 186 Expion. 187 Overview. 187 Overall Measurement Features (3.6 Stars) . 188 Reporting Features (3.2 Stars). 190 vii
Ho w t o M easur e S o ci al M e d i a viii Raven Tools. 191 Overview. 192 Overall Measurement Features (3.3 Stars) . 193 Reporting Features (2.5 Stars). 194 Social Snap . 196 Overview. 196 Overall Measurement Features (4.3 Stars) . 197 Reporting Features (3.9 Stars). 199 Tracx . 201 Overview. 201 Overall Measurement Features (2.2 Stars) . 202 Reporting Features (3.1 Stars). 203 Summary . 204 Hands-On Exercise: Measurement Tool Worksheet . 204 12 A Great Starter Mix of Tools for Less Than 10 a Month . 207 Why HootSuite Pro Is a Crucial Part of the Mix . 208 Validating Google Analytics Setup. 208 Integrating HootSuite with Google Analytics . 211 Start Tracking . 212 Sample A . 214 Sample B . 214 Sample C. 214 Limitations. 215 Getting the Data . 215 Hands-On Exercise: Create a System for Using Custom URL Parameters . 217 Source . 218 Medium . 219 Campaign . 220 Bonus Tip: Track the Exact Status Update That Drove a Conversion . 221 13 Creating a Cross-Functional Measurement Dashboard. 223 Hands-On Exercise: Build Your Dashboard . 229 14 Tying It All Together . 231 Hands-On Exercise: Social Media ROI Assessment . 233 Index . 235
A c k n o wl e d g me n ts ix About the Author Nichole Kelly is a pioneer in making social marketing efforts consistently profitable, measurable, and accountable. She is the president of SME Digital, the digital agency division of Social Media Explorer, and has worked for companies of all sizes, from Signs By Tomorrow-USA to Sherwin-Williams, Deutsche Bank Alex.Brown to The Federal Reserve Bank. Kelly runs the No-Fluff Social Media Measurement Boot Camp and has spoken at leading events including Dreamforce, B2B Summit, BlogWorld, Social Fresh, SocialTech, Inbound Marketing Summit, Exploring Social, Marketing Profs University, Small Business Success Summit, and the Social Media Success Summit. She writes about social media measurement for two of Ad Age’s top 30 marketing blogs, Social Media Examiner and Social Media Explorer. Dedication This book is dedicated to my three children, Huntor, Kaden, and Giavanna, and my amazing husband, Jason. Without them, life would not be complete. Acknowledgments Many people may not realize how much work it is to actually write a book. We naturally look to the author as the person who puts in the most time, but this process showed me that the support network of the author deserves the most praise. As such, I’ll start with my family. I’d like to thank my amazing husband, Jason Kelly, for giving me unending emotional support through this process. He is and always has been my biggest cheerleader and consistently tells me I can do anything I put my mind to. I love him with all my heart and could not have finished this book if he wouldn’t have helped me manage the household while I had my head down busting out chapters. You are my rock, Jay! My two boys, Huntor and Kaden, were amazingly supportive and understanding when I had to miss a lacrosse game, couldn’t participate in family movie night, or even when I tried and fell asleep on the couch at 9 p.m. because I’d been up since 5 a.m. writing. They also think it’s kind of cool that their mom wrote a book even if it is on a subject they may not understand yet. Many of you may not know that I undertook this project right after giving birth to my beautiful daughter, Giavanna. I was so blessed that she was such a happy baby who was easy to please. I don’t know what I would’ve done if she would have had colic, couldn’t sleep, or was generally miserable in her first year. Giavanna, I am so thankful that God brought you into our family and gave you such a wonderful disposition that made it possible to get this book completed on time.
x Ho w t o M easur e S o ci al M e d i a I also had the support of my sister, Sarah, who helped watch the kids, did my laundry, and provided the occasional pat on the back when I needed it. I am also very thankful for my amazing in-laws, John and Jean Kelly. They are so supportive of everything we do and are two of the most amazing grandparents I’ve ever met. Their unconditional support and love was so appreciated. Jean has watched Giavanna during the day since she was five days old. I am so thankful that Giavanna was in such good hands while I was working on building a business during the day and writing a book on nights and weekends. Without her support and understanding, this book would not have been possible. While my own mother, Karen, doesn’t live close by, she took the time to fly out and help with the kids when I needed it and has been such a great listener, supporter, and advocate for us. Thank you all for everything you have done to make this possible. I’d also like to thank my colleagues. My business partner, Jason Falls, recommended me for this topic to Que and was completely honest about how much work it takes to produce a great book. I think his exact words were, “You may want to shoot yourself a few times throughout the process, but it will be worth it.” Thank you for your honesty and for recommending me. Without your introduction, this book may never have made it off my computer screen and into bookstores. Katherine Bull, my acquisitions editor, is best-in-class. She made me feel like a rock star and walked me through everything step by step. She made sure all the pieces fell together while making it look so easy. Through the process, she became a great friend and confidant, and I’m so thankful to have met her. Matt Grant graciously offered to be the peer editor for this book to make sure the content was in line with what you would be looking for and that this book wasn’t full of fluff. Thank you for taking your spare time to keep me in check and providing your insightful comments along the way. I’d like to extend a special thank-you to Andrew Akers, who was a previous boss and is one of my greatest mentors. He has enough faith in me that he was officially the first person to preorder this book. You rock! I’d also like to take the time to thank all the companies who participated and provided their stories so we could learn from them, including Joseph Manna from InfusionSoft, Rachel Sprung from HubSpot, Dan Moyle from AmeriFirst Mortgage, Brannan Atkinson from Raven Tools, Nan Dawkins from Social Snap, Albert Chou and Peter Heffring from Expion, Mandy Newgrosh from Tracx, and Eric Boggs from Argyle. And thank you to all the other tools that graciously gave me demos. I had to prioritize those that were included based on how much they aligned with the methodologies in this book, but there are some really great monitoring tools out there that are starting to get serious about measurement, too. I expect to see really great innovations in how metrics are presented in many of the tools available in the market over the next 18 months, so keep your eyes open. Thank you especially to Peter Heffring and Nan Dawkins who decided I might
A c k n o wl e d g me n ts xi have something valuabl
B2B Summit, BlogWorld, Social Fresh, SocialTech, Inbound Marketing Summit, Exploring Social, Marketing Profs University, Small Business Success Summit, and the Social Media Success Summit. She writes about social media measurement for two of Ad Age's top 30 marketing blogs, Social Media Examiner and Social Media Explorer. Dedication
Index Terms—social media; social media marketing; strat-egy; sufficient, e-word-of-mouth; Starbucks I. INTRODUCTION N MODERN society, social media is one of the essential factors in a media sector and marketing. It is said that so-cial media is a new measure for media over the world, which has a vast difference with public media. I
3.3.4 The role of Social Media in Marketing 27 3.4 Social media marketing - Platforms of online communication and the impact of social media on consumer behaviour 29 3.4.1 Most popular social media platforms 30 3.4.2 Social media platforms by zones 35 3.4.3 Social Media Marketing Strategies 39 3.5 Significance of social media for branding 40
Social Media Marketing 6 Social media is a fusion of sociology and technology Social media is user-controlled, which means that sociologic components play a large role in any company‟s social media business strategy. The limits of social media are only set by the limits of the tec
How to Use Social Media Analytics to Create the Best Content Social Media Image Cheat Sheet A Strategic Guide to Social Media for Nonprofits The Complete Guide to Nonprofit Social Media: Strategy and Design Tips for Success Social Media for Non -Profits: High Impact Tips and the Best Free Tools A Nonprofit's Ultimate Guide to Social Media .
Use of Social Media Social Media Strategy Champions of Social Media Impacts of Social Media The results of the interviews are summarised and discussed below: Use of Social Media Twitter was the most widely used form of social media, used by all the businesses in this survey and
THE SOCIAL MEDIA REPORT STATE OF THE MEDIA: 2012. 1 2 SOCIAL MEDIA IS COMING OF AGE Social media and social networking are no longer in their infancy. Since the emergence of the Þrst social media networks some two deca
then this is simply known as social media aggregation. Social media aggregation is done with the help of a tool called social media aggregator. The social media aggregator tool brings together feeds . 4 Comparison of Social Media Aggregator Tools Although there are so many different social network aggregators on the market, it is important to .
American Revolution This question is based on the accompanying document (1-6). The question is designed to test your ability to work with historical documents. Some of the documents have been edited for the purposes of the question. As you analyze the documents, take into account the source of each document and any point of view that may be presented in the document. HISTORICAL CONTEXT: passed .
